YN Media raises £7,000 for Norwood

Download is a progression of the music industry. We should have easier access to content, but how do we monetise it? People are trying to figure out how to make money out of this.

Shazam creator, Rahul Powar and CEO and Co-Founder of Musicmetric, Gregory Mead, took to the stage for an insightful and entertaining discussion, moderated by BBC Radio 1 entertainment presenter, Natalie Jamieson at the annual YN Media fundraising reception last night. The event, which raised £7,000 for the Charity, was hosted by the London Film Museum Covent Garden, and welcomed 120 young professionals, many of whom work in the media industry.

The evening was a great opportunity for guests to network while raising money for Norwood, a leading UK charity which supports vulnerable children, their families and people with learning disabilities. The event featured an exclusive performance from comedic rap masterminds, Abandoman, who gave a special shout out to Norwood during their set. A number of auction and raffle prizes were also on offer, including dinner with Rahul Powar, an iPad and a 500GB Sony PS3.

During the panel discussion Natalie probed Rahul and Gregory on their careers and the future of the music industry. When asked whether downloading music was killing the music industry, Rahul said: "Download is a progression of the music industry. We should have easier access to content, but how do we monetise it? People are trying to figure out how to make money out of this."

Giving his view on whether music streaming services are the future, Gregory said: "In terms of consumptual music, yes. A lot of people are against it but we are going to see the impact of streaming in the next few years. Streaming revenues are going to go up."

When Rahul was asked if he thought Shazam was going to be as phenomenal as it is now, when it was being developed, he told the audience: "I thought it would take a couple of years, but it took a long time! This was a service I could see myself using and a service that I think was needed."

The floor was then opened to guests who had the opportunity to quiz the panel.

Jessica Blair, YN Fundraiser, said: "The evening was a great success and thoroughly enjoyed by all. I would like to thank our special guests Rahul, Gregory, Natalie and the fantastic Abandoman for taking time out of their busy schedules to attend last night’s event and the YN Media Committee who have worked so hard to make this event such a success. I would also like to thank our hosts, the London Film Museum Covent Garden.